Sandy Spring Bank Has $72,000 Stake in MasTec, Inc. (NYSE:MTZ)

Sandy Spring Bank lowered its position in MasTec, Inc. (NYSE:MTZ) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 530 shares of the construction company’s stock after selling 120 shares during the period. Sandy Spring Bank’s holdings in MasTec were worth $72,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its position in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after acquiring an additional 289,090 shares during the period. Point72 Asset Management L.P. lifted its position in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC lifted its position in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after acquiring an additional 209,472 shares during the period. Raymond James Financial Inc. bought a new stake in MasTec during the 4th quarter valued at $17,776,000. Finally, Bank of New York Mellon Corp increased its stake in MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after purchasing an additional 114,502 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays boosted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Price Performance

MTZ opened at $123.89 on Friday. The firm has a market cap of $9.82 billion, a P/E ratio of 110.61 and a beta of 1.74. The firm has a 50-day moving average of $135.56 and a 200 day moving average of $132.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.